Your Weekend Crypto Roundup | 27 December 2024

This week in crypto dives into a whirlwind of major headlines, from Interpol’s Red Notice for Richard Heart to the SEC’s crackdown on Jump Crypto. From Fantom’s token transformation to North Korea’s audacious $300M hack, here’s a snapshot of the week’s most captivating events.

Biggest Story

Interpol Issues Red Notice for Richard Heart

Richard Heart, the crypto mogul behind Hex and PulseChain, is now one of Europol’s most wanted. Finnish authorities claim he dodged millions in taxes and assaulted a 16-year-old, leaving them injured. Interpol issued a Red Notice, meaning he could be extradited if caught.

But here’s the wild part—he’s totally brushing it off! On X (formerly Twitter), he joked about being “wanted” and hinted at brighter days ahead. Known for his flashy persona, these charges are a major blow, especially given that he is subject of another regulatory crackdown in the U.S. For now, Heart’s location remains unknown.

Other Stories Making Waves

1. Binance Supports Fantom’s Switch to Sonic Tokens in 2025: Binance has announced that it would support Layer 1 blockchain Fantom rebrand as Sonic with a token swap coming in January 2025. The swap is 1:1, and the new Sonic token promises better incentives for developers. Trading kicks off on January 16.
2. KickStreaming’s X Account Hacked to Promote Scam Tokens: KickStreaming’s X account was hacked to push fake Solana-based scam tokens. The co-founder denied any plans for a token, calling it a complete hoax. 
3. Crypto Mining and AI May Strain North America’s Power Grids: A U.S. energy body has warned that crypto mining and AI are guzzling electricity and could destabilize grids by 2029. 
4. FBI Links $300M DMM Bitcoin Hack to North Korea: North Korean hackers posed as LinkedIn recruiters were responsible for the $305 million breach of Japanese exchange, DMM Bitcoin, the FBI alleges. The hacking group, known as “TraderTraitor,” have been under the radar of the law enforcement agency for a while now and they are allegedly linked to the infamous Lazarus Group.
5. Metaplanet Buys 619 BTC, Becomes Asia’s MicroStrategy: Japan’s Metaplanet has continued to justify its latest nickname “Asia’s MicroStrategy.” With 1,762 BTC in its treasury, thanks to its newest $60M acquisition, it’s betting big on Bitcoin amid a shaky yen and Japan’s economic struggles.
6. Will Sam Bankman-Fried Get a Presidential Pardon?: There’s talk about Sam Bankman-Fried, the ex-FTX boss, possibly getting a presidential pardon. Elon Musk stirred the pot with an X post saying he’d be “shocked” if it doesn’t happen. Convicted of fraud and serving 25 years, people are debating if his political ties and donations could sway the decision.
7. Trump Vows to End Operation Choke Point 2.0: Donald Trump has promised to dismantle “Operation Choke Point 2.0,” which many believe quietly targeted crypto businesses. His bold plans, including firing key regulators, have sparked hope for a friendlier U.S. crypto climate.
8. U.S. SEC Fines Jump Crypto Unit Over Terra Collapse: The SEC just hit a Jump Crypto subsidiary with a $123 million fine! Turns out, they propped up Terra’s stablecoin with shady tactics, misleading investors. 

Around the World: Bold Moves and Crypto Regulations

U.S. and South Korea Unite to Fight Crypto Thefts: The U.S. and South Korea have teamed up to develop advanced tech to track stolen funds. With $1.6 billion allegedly swiped by North Korea this year alone, the crackdown couldn’t come at a better time.

Singapore Edges Out Hong Kong as Asia’s Crypto Hub: Singapore is stealing the spotlight in Asia’s crypto hub rivalry. With proactive licensing and major players like OKX and BitGo on board, it’s leading the way. Meanwhile, Hong Kong’s slower pace and ties to China are holding it back.

Russia Bans Crypto Mining in 10 Regions: Russia just banned crypto mining in 10 regions to prevent energy shortages. Famed for its low cost energy supply, Siberia faces seasonal restrictions in addition. While legalizing mining last year seemed promising, new taxes and strict rules are leaving the industry on thin ice.

Market Trends: Winners and Losers

Top 5 Gainers ????

According to data from CoinGecko, these are the five biggest gainers for the week:

1. inSure Defi: increased from $11,073,184 to $74,980,350, a 576.9% increase.
2. CONVO: grew from $17,171,702 to $57,802,123, a 236.7% increase.
3. SEND: rose from $16,595,364 to $71,195,226, a 329% increase.
4. Game by Virtuals: surged from $95,966,504 to $250,668,939, a 161.2% increase.
5. Tema: expanded from $21,893,376 to $42,864,831, a 95.8% increase.

Top 5 Losers ????

According to data from CoinGecko, the five biggest losers for the week are:

1. Luckycoin: dropped from $110,869,436 to $66,467,628, a 40.1% decrease.
2. Bitcoin Gold: fell from $313,356,862 to $195,562,326, a 37.6% decrease.
3. Shiro Neko: declined from $252,667,198 to $178,850,176, a 29.2% decrease.
4. Eliza: decreased from $78,379,018 to $52,392,865, a 33.2% decrease.
5. Verum Coin: shrank from $161,980,162 to $105,481,832, a 34.9% decrease.

Project Spotlight

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Why does it matter? It ensures DeFi protocols stay economically resilient, supports reliable oracle access, and keeps user-friendly, ethical practices at the forefront. Chainlink SVR is live on testnet and poised to transform DeFi when it hits Ethereum mainnet.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence. 

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